Quote:
Originally Posted by tony286
they shouldnt forgive them, they should allow one 5 yr freeze. That you can only do once during the life of the loan. You got some kid out of school with a mountain of school loans and can only find work at starbucks for now. Its not going to get paid. things will get better then unfreeze and payments can start. We wont get in to the scam schools that rat fuck these students and there is close to no gov regulation on it.
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This is a fair idea. Or allow for a restructure of the debt so that the interest rate is very very low and the payments are very small.
I have a friend that got out of college and the job he was able to get wouldn't allow him to live and pay back his student loan at the same time. they restructured his loan to lower the payment, but now the total he will pay back is obscene. He borrowed a total of 60K. When it is all said and done he will pay back almost 400K.